NEIRO, MUMU, and POP CAT lead the meme coin surge with gains of 39.22%, 36.75%, and 36.16% respectively in the past 24 hours.
Institutional investors accumulated over $14 billion in crypto assets during the recent selloff, showing confidence in market recovery.
Solana-based meme coins and cat-themed tokens experience notable rebounds, with SOL-ETH and SOL-BTC prices reaching new highs.
Meme coins are showing notable strength, leading the recovery among the top 500 cryptos by market cap. On Tuesday, as the stock market rebounded, meme coins outperformed other assets, with seven top-performing tokens all being joke coins. The surge in meme coin prices highlights their growing influence in the crypto market.
https://twitter.com/DegenerateNews/status/1821113683403030708 Notable Gains in Meme Coins
Several meme coins have had impressive gains over the last 24 hours. NEIRO leads with a 39.22% increase, followed by MUMU with a 36.75% rise, POP CAT up by 36.16%, $MICHI growing by 35.23%, MOTHER increasing by 32.60%, DADDY up by 28.88%, and GIGA with a 27.80% rise. These substantial increases indicate major recovery in the meme coin sector, setting it apart from other cryptocurrencies.
Institutional Accumulation Amid Selloff
During the recent market selloff, retail investors liquidated over $1 billion in crypto assets. However, institutions accumulated more than $14 billion, according to JP Morgan. This institutional activity suggests confidence in the market's future direction. Notably, healthy market conditions have enabled meme coin prices to climb exponentially, further demonstrating their resilience and potential for growth.
Solana-Based Meme Coins and Market Trends
The crypto market's rebound includes gains in Solana-based meme coins and cat-themed tokens. K33 Research analysts highlight opportunities for short-term profits, particularly in Solana mean reversion plays.
This strategy bets on assets returning to their historical averages after substantial deviations. Analysts note that Solana's strength makes it a clear option for long positions. Additionally, Solana meme coins have experienced large bounces, with SOL-ETH and SOL-BTC prices reaching new highs since Monday's downturn.
K33 analysts also caution about recent developments in the Solana ecosystem, emphasizing the need for careful monitoring. However, the overall positive momentum in meme coins indicates a strong recovery, positioning them as key digital assets in the crypto market's resurgence.
The post Meme Coins Surge as Market Rebounds, NEIRO and MUMU Lead With Over 35% Gains appeared first on Crypto News Land.